If you find the
U.S. electric power industry to be a complex and confusing subject, you are not alone.
This proven two-day program provides a comprehensive and clear explanation of the structure, function, and current status of
today's U. S. electric power industry; who the industry players are, and why it is so difficult to develop new projects and get things done; the fundamentals of ISO day-ahead auctions, LMP, FTRs, CRRs, LSEs, SCs, QSEs and forward capacity markets; the basics of utility cost-of-service ratemaking, competitive customer choice retail markets, heat rates, electricity storage, solar, wind, distributed energy resources (''DER''), demand response and demand side management (''DSM''); and the reliability and economic ''Duck Curve'' type of issues raised by the integration of renewable energy, DER, and electricity storage resources into the existing power grid.
Each part of this complex industry will be explained piece-by-piece, and then the pieces will be integrated so that attendees will leave with an understanding of ''how it all fits together.''
What You Will Learn
- The structure and function of the electric service system, its terminology and units, and the properties of electricity.
- How the North American power grid is structured, how it operates and what the different types of electric generation are.
- How control areas, balancing authorities, spinning reserves, AGC and security constrained environmental economic dispatch work.
- Who the key players in the industry are, and why the industry is so difficult to restructure.
- How cost-of-service utility ratemaking and open access deregulated markets work, and why open access retail electricity markets are finally developing in states that permit them.
- What ISOs, RTOs, ITCs and merchant transmission companies are, and how they operate.
- What the smart grid, demand side management (''DSM''), distributed energy resources (''DER'') and demand response (''DR'') are, and how these forms of ''virtual generation'' and renewable energy resources are disrupting the U.S. power industry.
- The opportunities and challenges associated with wind, solar and other renewables.
- How ISO Day-Ahead energy auction markets operate in PJM, New York, Texas, California, MISO and other ISO areas;
- What locational marginal pricing (LMP) is and why it is important; how Day-Ahead and Real Time LMP is applied in the ISO markets, and why FTRs, TCCs, CRRs, TCRs , virtual bids (''Incs & Decs'') and convergence bidding are important to understand.
- What capacity markets and resource adequacy are, and how this important issue relates to demand response, DER and demand side management and affects the integration of wind, solar and other renewables into the existing power grid.
- An understanding of utility scale solar, community solar, rooftop solar, net metering, wind energy and other renewable energy resources.
- What the Western Grid ''Energy Imbalance Market'' is, and why it is important to understand Community Choice Aggregators, the California ''Duck Curve'' and ''FRACMOO.''
- The difference between operating, economic, market implied and negotiated heat rates.
- And much, much more...
Who Should Attend this Seminar
Among those who will benefit from this seminar include energy and
electric power executives; attorneys; government regulators; traders
& trading support staff; marketing, sales, purchasing & risk
management personnel; accountants & auditors; plant operators;
engineers; and corporate planners. Types of companies that typically
attend this program include energy producers and marketers; utilities;
banks & financial houses; industrial companies; accounting,
consulting & law firms; municipal utilities; government regulators
and electric generators.
Prerequisites and Advance Preparation
This fundamental level group live seminar has no prerequisites. No advance preparation is required before the seminar.
Program Level
Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level.
Delivery Method
Group-live.
Each Class is Limited to First 20 Registrants
Your Instructor
John Adamiak
John Adamiak is President and Founder of PGS Energy Training and an expert in energy derivatives and electric power markets. Mr. Adamiak is a well-known and highly effective seminar presenter who has over 20 years experience in the natural gas and electric power industries. His background includes 15 years as a seminar instructor, 9 years of energy transaction experience, and 6 years of strategic planning and venture capital activities. John's academic background includes an M.B.A. degree from Carnegie Mellon University.
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Seminar Agenda
- The properties and terminology of electricity - current, power, var, voltage, etc.
- An overview of the electric service system, and how it works.
- The structure and function of the North American power grid.
- How control areas & balancing authorities operate, what spinning reserves are, and how the lights are kept on.
- The pros and cons of different sources of electric generation ( coal, natural gas, nuclear, renewables ), and how they work.
- How cost-of-service ratemaking and retail open access markets work
- Why open access retail electricity markets are finally developing in states that permit them.
- Who the various industry participants are and their roles.
- Why restructuring today's power markets is such a complicated task.
- The difference between ISOs, RTOs, ITCs and merchant transmission companies.
- Why it is so difficult to build new high voltage power lines.
- How ISO Day-Ahead energy energy auction markets operate in PJM, New York, Texas, California, MISO and other ISO areas.
- What locational marginal pricing (LMP) is, and why it is important.
- How Day-Ahead and Real Time LMP applied and managed in the ISO markets.
- Virtual bids (''Incs & Decs'') and convergence bidding and what their purpose is.
- Financial transmission rights (''FTRs''), congestion revenue rights (''CRRs''), TCCs, TCRs and TRs.
- Forward capacity markets, resource adequacy and generation reserve margins.
- Wind, utility scale solar, rooftop solar, community solar, and the net metering debate.
- The opportunities, challenges and risks associated with wind, solar and other renewables.
- The smart grid, demand side management (''DSM''), distributed energy resources (''DER'') and demand response (''DR''), and why these assets are forms of ''virtual'' electric generation..
- How wind, solar, DER, DSM, demand response and conservation are disrupting the U.S. power industry
- The Western Grid ''Energy Imbalance Market,'' The California ''Duck Curve'' and California's ''FRACMOO-Phase 2''
- CLASS DISCUSSION
Venue
The Melrose Hotel
2430 Pennsylvania Ave NW, 20037
Washington, DC, USA
Hotel and Seminar Information
This two-day seminar will be held at the hotel listed below. The seminar will start promptly at 8:00 AM and will finish at 5:00 PM on the first day. On the second day, the seminar will resume at 8:00 AM and will finish at 1:00 PM.
The program includes continental breakfast, lunch, and coffee breaks on
the first day. On the second day a continental breakfast, snack and
coffee breaks are included. Attendees also receive a professionally
produced seminar manual that can serve as a valuable office reference.
Dress is casual for all seminars.
Venue
The Melrose Hotel2430 Pennsylvania Avenue, NW
Washington D.C.
Telephone: 202-955-6400
View Seminar Location WebsiteBecause of the diversity of hotels found in the area, we will not be holding a block of sleeping rooms with one particular hotel.
